QatarEnergy awarded offshore exploration block in Egypt
5 October 2023QatarEnergy has been awarded a new exploration block offshore in the Arab Republic of Egypt as part of the 2022 EGAS International Bid Round.
The results of the competitive bid process were announced by Egypt’s Ministry of Petroleum and Mineral Resources, awarding exploration and production rights for block EGY-MED-E8 (East Port Said) to a consortium comprising of QatarEnergy (33%), ENI (Operator, 34%) and BP (33%).
This award solidifies QatarEnergy’s position in Egypt’s upstream sector with a total of four offshore exploration blocks, including interests in Red Sea Block 3 and Block 4, and the North Marakia block in the Mediterranean Sea.
Commenting on this award, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy, said: “We are delighted to be awarded the East Port Said block, which further expands our presence in the Arab Republic of Egypt. We look forward to collaborating with the Ministry of Petroleum and Natural Resources, EGAS, and our partners ENI and BP to progress our exploration endeavors.”
Located offshore Egypt’s northeastern Mediterranean coast, the East Port Said block lies in water depths up to 800 meters and covers an area of approximately 2,600 square kilometers.
Related
-
Cimic company to expand Queensland mine for $1.5bn
27 June 2025
-
Dubai tenders Al-Maktoum airport substructure
27 June 2025
-
Systra wins France’s biggest high-speed rail project
25 June 2025
-
Nigeria secures $3.5 Billion Afreximbank funding for Bakassi deep seaport
24 June 2025
-
ArcelorMittal drops German green steel plans despite €1.3bn subsidy
24 June 2025
-
Egypt’s Elsewedy Electric to supply power solutions for first resort in Ras El Hekma
23 June 2025